alstry (< 20)

Economy Evaporating into VAPOR

17

Bank of America could end up cutting 30,000 jobs as it moves to absorb Merrill Lynch, three times as many as previously estimated, sources told CNBC.

Thousands more will be cut from Courtrywide. Few if any of these jobs will be replaced. California running out of money. Consumer credit being cut by almost 50%. Autos need billions just to stay open for the rest of the year......and for the most part.....the population still doesn't get how serious the problem has become,,,,,,,,

DALLAS (AP) -- Executives of major U.S. airlines, already seeing signs of slumping travel demand, said Tuesday they were ready to cut more flights, and Delta hinted at more job losses as the carriers jockey to survive the deepening recession.

By the way.....these stories are not limited to America.

(MarketWatch) -- Responding to sagging market demand, top Japanese steel makers reportedly are considering the drastic step of temporarily shutting down blast furnaces as early as this month.

Banks cutting jobs may be a normal reaction to a changing industry. While it looks bad now, strong banks will emerge from the mess. The railroads have been going though downsizing, cutting route miles and jobs for 50+ years and are healthier and more productive than ever. It is industries that don't change that will die - like the automakers.